Baoviet Holdings has released its business results for the first half of the year (before review), showing total consolidated revenue of VND20.7 trillion ($890.18 million), up 37.8 per cent year-on-year.

Bao Viet Life’s total revenue was VND14.9 trillion ($640.7 million), up 46.3 per cent against the same period last year, while Bao Viet Insurance’s was VND5.3 trillion ($227.8 million), up 25.6 per cent and representing 51.2 per cent of the annual plan.

Total revenue of the parent company was estimated at VND770 billion ($33.1 million). Preferred shares were issued to employees in an ESOP this year. Chartered capital has increased to nearly VND7 trillion ($300.9 million); a 3 per cent increase.

The Bao Viet Fund (BVF) is estimated to have recorded nearly VND60 billion ($2.5 million) in total revenue, up 22.1 per cent year-on-year. The Bao Viet Holdings Fund (BVBF), meanwhile, continued to record good results, with growth of 9.56 per cent.

Baoviet Holdings will close the list of shareholders to receive cash dividends at a rate of 10 per cent, equivalent to VND700 billion ($30.08 million), on August 3, payable from August 31, raising the total amount of cash dividends paid since 2007 to nearly VND7.5 trillion ($322.3 million).

According to the Vietnam Insurance Association, as at the end of June, total revenue in Vietnam’s life insurance market is estimated at VND37.2 trillion ($159.8 million), up 31 per cent year-on-year. Revenue from the non-life insurance market is estimated at VND 22.2 trillion ($954.09 million), an increase of 12 per cent. Bao Viet continues to lead in market share in both life and non-life insurance.